ACC net profit falls 28.14% to Rs 84.1 crore in Q3

NEW DELHI: ACC posted 28.14 per cent fall in the quarter ending September 30. For the quarter under review the company reported a standalone net profit of Rs 84.1 crore as against Rs 117.03 crore in the same period last year.

Total standalone revenue for the quarter came in at Rs 2,470.6 crore, down by 9.83 per cent on a YoY basis from Rs 2,740 crore.

The company reported an income from operations of Rs 2,519.19 crore. Company shares are currently trading at Rs 1,557.25 on NSE down by 3.24 per cent.

PTI adds
Its total expenses were lower at Rs 2,403.14 crore from Rs 2,639.99 crore during the period under review.

In the September quarter, cement sales of the company fell by 10 per cent to 5.07 million tonnes (MT) against 5.61 MT during the same period in 2015-16.

"Although higher monsoon activity subdued sales during this quarter, it augurs well for demand in the coming months," it said.

Market conditions led to marginally lower realisations as compared to the previous year in all regions except in north India, whereas net selling prices registered an improvement on a sequential basis, ACC added.

On outlook, the firm said: "On the supply-side, we expect our volumes to pick up as the newly commissioned units stabilise, especially in the fast growing eastern region. On the overall demand side, we maintain an optimistic outlook for the economy in the coming months."

In July, the cement maker said its new 2.79 MT per annum clinker plant and 1.10 MT grinding unit at Jamul, Chhattisgarh started commercial production, which will help the firm strengthen its consumer base in Eastern India.

The remaining phase of this project comprising a 1.35 MT cement grinding plant at Sindri in Jharkhand is expected to be commissioned before October-end, it said.